Staffing 360 Solutions Announces Initiation of Research Coverage by Murphy Analytics

NEW YORK, NY--(Marketwired - Aug 15, 2014) - Staffing 360 Solutions, Inc. (OTCQB: STAF), a public company executing a global consolidation strategy through the acquisition of domestic and international staffing organizations with operations in the US and Europe, today announced the release of an in-depth initiation report by Patrick Murphy, CFA, principal of fee-based independent research firm Murphy Analytics.

In his report, Mr. Murphy discusses Staffing 360 Solutions, its global consolidation strategy in the highly fragmented staffing industry, and initiates fee-based coverage with a 12-month price target of $5.00 per share.

"Staffing 360 Solutions is addressing the increasing demand for temporary staffing services in the United States and around the world," said Alfonso J. Cervantes, Vice Chairman and President of Staffing 360 Solutions. "While this report is fee-based, we believe it accurately reflects and quantifies our company's progress to date, including our highly targeted acquisition strategy, which has allowed us to grow from negligible revenues to over $120 million in revenues on an annualized basis. We are continuing to pursue opportunities in the $400 billion global staffing market, and believe that our buy-and-build strategy is ideally suited for this fragmented industry."

From the report, Mr. Murphy states, "The Company believes the staffing industry offers opportunities to create a successful public company with a longer term objective of accretive acquisitions that will drive annual revenues to $300 million."

The report details the sizable growth opportunities within the higher margin professional staffing sectors that are of particular interest to Staffing 360 Solutions, such as the finance and accounting, administrative, engineering, IT and cybersecurity industries. Not only do these industries produce average margins in the 15 to 30% range, they are also highly fragmented, with over 15,000 staffing companies with under $20 million in revenues in the United States alone. According to the report, outside of the top 10 staffing firms globally, no other company has greater than 1% market share. 

Mr. Murphy goes on to say, "Staffing 360 Solutions has assembled a first-class management team to execute a proven acquisition strategy in a highly fragmented, large, and growing market opportunity. Not only have other publicly traded companies proven that this model works, but STAF executives have executed the strategy previously and are now proving it with STAF, which has grown from concept to over $100 million in annualized revenue in just a few quarters."